Skip to main content

MoneyWorks4Me

Gold futures finish lower as Fed stays hawkish

02 Nov 2023 Evaluate
Gold futures finished lower on Wednesday, pressured by the strength in dollar and as Federal Reserve kept the interest rate high. The US Central bank Chair also pointed that it may further increase in borrowing costs. However, slide in bond yield notes limited some losses in the session.

Gold futures for December delivery dipped by $6.80. or 0.56% to $1987.50 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $4.80 points or 0.24% to $1,992.30 per ounce.